News Summary

• Microsoft's AI growth is inorganic and revolves almost entirely around training ChatGPT's models.
• OpenAI accounts for around 70% of Microsoft's total AI-related income.
• Microsoft is already trying to diversify by training its own "more efficient" MAI models for consumer applications.
• But none of this will save Microsoft or its shareholders if the so-called "AI bubble" well and truly does pop.
• It'll be interesting to watch how CEO Satya Nadella navigates Microsoft through this somewhat unprecedented era.